In-Vitro Fertilization Market is projected to expand at a CAGR of 6.5% during the forecast period of 2017–2022
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The global in-vitro fertilization market is estimated to rise from US$529.8 Mn in 2017 to US$725.9 Mn by 2022 end. The market is projected to expand at a CAGR of 6.5% during the forecast period of 2017–2022. in vitro fertilization Market Here is an in-depth insight into various factors shaping the current and emerging dynamics of the global IVF market: The rising number of couples, men or women, suffering with various anatomic factors such as tubal disease and endometriosis, ovulatory disorders, and unexplained cases of infertility in various parts of the world is a key trend stoking the demand for in-vitro fertilization treatments. The prevalence of infertility can be attributed to an amalgamation of factors such as genetic, lifestyle-induced, and unprotected intercourse.
The increase in the number of known genetic disorders in developed nations among fertile couples also bodes well for the in-vitro fertilization market. These couples opt for IVF to prevent the transmission of the diseases to their children. The wide availability of genetic tests in numerous advanced nations is anticipated to further boost the detection of these genetic disorders, thereby fueling the demand for IVF procedures. The availability of routine insurance coverage for IVF procedures is gaining traction in several developed and developing countries, which is expected to open up lucrative market avenues. This is also expected to bring down the cost of treatment.
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However, the risk of failed IVF cycle is a key factor likely to hinder the market. On the other hand, recent advancement in technologies and the growing expertise of clinicians are factors expected to address this concern. Regionally, Asia Pacific excluding Japan currently leads the global market vis-à-vis revenue and is expected to retain its lead throughout the forecast period. The APEJ in-vitro fertilization market is projected to rise at a CAGR of 6.7% from 2017 to 2022 and reach US$ 235.9 Mn by the end of the forecast period. The major product types are reagents and equipment. Of these, the demand for reagents is projected to remain dominant with the segment expected to be worth US$ 385.9 Mn by the end of 2022.
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